Withdrawal of a partner: A partner can withdraw from the partnership firm for various reasons for like Retirement, Dispute with the other partners etc. When a partner withdraws from the firm, the books of the firm are closed and profits are distributed to the partners. After distribution of the profit, balance of the capital account of the retiring partner is paid to him as the agreement. To Determine: Journal entry of withdrawal of partner.

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Answer 1

Question

Chapter 12, Problem E12.20E

To determine

Withdrawal of a partner: A partner can withdraw from the partnership firm for various reasons for like Retirement, Dispute with the other partners etc. When a partner withdraws from the firm, the books of the firm are closed and profits are distributed to the partners. After distribution of the profit, balance of the capital account of the retiring partner is paid to him as the agreement.

To Determine:

Journal entry of withdrawal of partner.

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Answer 2

Question

Chapter 12, Problem E12.20E

To determine

Withdrawal of a partner: A partner can withdraw from the partnership firm for various reasons for like Retirement, Dispute with the other partners etc. When a partner withdraws from the firm, the books of the firm are closed and profits are distributed to the partners. After distribution of the profit, balance of the capital account of the retiring partner is paid to him as the agreement.

To Determine:

Journal entry of withdrawal of partner.

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Answer 3

Question

Chapter 12, Problem E12.20E

To determine

Withdrawal of a partner: A partner can withdraw from the partnership firm for various reasons for like Retirement, Dispute with the other partners etc. When a partner withdraws from the firm, the books of the firm are closed and profits are distributed to the partners. After distribution of the profit, balance of the capital account of the retiring partner is paid to him as the agreement.

To Determine:

Journal entry of withdrawal of partner.

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Answer 4

Question

Chapter 12, Problem E12.20E

To determine

Withdrawal of a partner: A partner can withdraw from the partnership firm for various reasons for like Retirement, Dispute with the other partners etc. When a partner withdraws from the firm, the books of the firm are closed and profits are distributed to the partners. After distribution of the profit, balance of the capital account of the retiring partner is paid to him as the agreement.

To Determine:

Journal entry of withdrawal of partner.

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Answer 5

Chapter 12, Problem E12.20E

To determine

Withdrawal of a partner: A partner can withdraw from the partnership firm for various reasons for like Retirement, Dispute with the other partners etc. When a partner withdraws from the firm, the books of the firm are closed and profits are distributed to the partners. After distribution of the profit, balance of the capital account of the retiring partner is paid to him as the agreement.

To Determine:

Journal entry of withdrawal of partner.

Answer 6

Chapter 12, Problem E12.20E

To determine

Withdrawal of a partner: A partner can withdraw from the partnership firm for various reasons for like Retirement, Dispute with the other partners etc. When a partner withdraws from the firm, the books of the firm are closed and profits are distributed to the partners. After distribution of the profit, balance of the capital account of the retiring partner is paid to him as the agreement.

To Determine:

Journal entry of withdrawal of partner.

Answer 7

Chapter 12, Problem E12.20E

To determine

Withdrawal of a partner: A partner can withdraw from the partnership firm for various reasons for like Retirement, Dispute with the other partners etc. When a partner withdraws from the firm, the books of the firm are closed and profits are distributed to the partners. After distribution of the profit, balance of the capital account of the retiring partner is paid to him as the agreement.

To Determine:

Journal entry of withdrawal of partner.

Answer 8

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Answer 9

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Answer 10

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Answer 11

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